MartinLogan leader leaves company

Rafael Nevares, president and chief executive officer of MartinLogan Ltd. since 2002, has left the Lawrence-based designer and manufacturer of high-end audio speakers.

Nevares left the company this week. The company did not disclose reasons for his departure.

ShoreView Industries Inc., a Minneapolis, Minn.-based private equity firm that bought a majority interest in MartinLogan in November 2005, is working on hiring a replacement. Until then, MartinLogan's senior management team is charged with leading the company, which has about 80 employees working on Delaware Street in East Lawrence.

MartinLogan's speakers, which have sold for as much as $120,000 a pair, are popular among movie stars and dedicated audiophiles.